How can a partner be held liable on a JV transaction

[Leland James]

So, my sister is recently trying to get on board with real estate investing. Right now we’re looking to make a purchase on a home soon to fix and flip. I’ve been doing fix and flips for years, she wants to get involved but she’s nervous and has two main questions. I have faith that my bigger pockets people can help me out you guys are great!! Here they are I hope to hear back. She has the following questions.

- how can she (she’ll be funding the flip) be held liable if something goes wrong during the process

- and how does the payment in the end work, like how are funds distributed once the house sells.

Well guys hopefully she’s happy with some bigger pockets answers or we’ll have to go an attorney or.... she could just miss out on an opportunity lol.

Thanks guys.